The European Commission today disbursed €300 million in emergency Macro-Financial Assistance (MFA) to Ukraine. The disbursement of funds has been fast-tracked to help enhance Ukraine’s macroeconomic stability in the face of Russia’s unprovoked and unjustified invasion.
This is the initial part of a first €600 million instalment under Ukraine’s new €1.2 billion emergency MFA programme. A further disbursement of €300 million is expected to take place next week.
At the same time, the Commission is working on all fronts to support Ukraine with emergency assistance. This includes both humanitarian aid and civil protection assistance. On 1 March, Commission President Ursula von der Leyen announced at least €500 million of additional EU funding for response activities dealing with the humanitarian consequences of the crisis.
European Commission President Ursula von der Leyen said: “Putin’s unjustified war exerts not only brutal military but also economic pressure on Ukraine and its brave people. Europe stands firmly by their side. I am glad to announce that today the EU disbursed €300 million in emergency Macro-Financial Assistance to support Ukraine’s finances. Other payments and packages will follow.”
Valdis Dombrovskis, Executive Vice-President for an Economy that Works for People added: “This is a critical time when Ukraine needs our help – urgently. We have moved at record speed to disburse a first part of emergency macro-financial assistance to Ukraine… It will help to provide vital support at a time of intense suffering and hardship caused by unprovoked Russian aggression against Ukraine and its people. Europe does all it can to support Ukraine in its hour of need as its people fight for democracy and freedom as a sovereign state.”
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